This step sees us gearing up for change. We’ll review the issues that were uncovered in Step 1and share them with management teams. The review will show clearly the elements that contribute to sales, cash, EBITDA and profit and what needs to change to drive improvement. In particular, it will highlight quick wins that will improve the business’s short term performance and get everyone energised to deliver the wider transformation agenda.
My role here is to drive the change and lead by example. I’ll be:
- stabilising finances and core activities
- changing the pace, breaking down the walls and looking for opportunities to do things differently
- focusing on engagement of employees at all levels to implement their “easy win” ideas
- targeting improvements in operational performance particularly key customer satisfaction metrics
- focusing on sales growth, cash generation and working capital release
- building stakeholder confidence and support
The work during this step puts us in good shape for the challenges that lie ahead. It also gives us breathing space as we move to Step 3.
